News Video | Policy | GPs | Hospitals | Medical | Mental Health | Welfare | Search


Pacific Edge Reports Continued Growth in FY19

Cancer diagnostics company, Pacific Edge (NZX: PEB) has today released its audited financial results for the year ended 31 March 2019, reporting accelerating demand from new and existing customers in the second half of the financial year, particularly from New Zealand customers in the final quarter of the year.

Pacific Edge’s Cxbladder tests continue to provide a compelling value proposition for healthcare providers, patients and clinicians alike. Test adoption, coverage and reimbursement is expected to grow in FY20 as clinical evidence continues to accumulate in favour of Cxbladder.

CEO of Pacific Edge, David Darling, said: “Many of the foundations for commercial success have now been completed. We have a proven business model and a growing list of compelling clinical evidence published in toptier international journals. This published evidence is the key ingredient in driving widespread reimbursement and adoption of Cxbladder with customers globally.

“Adoption of Cxbladder is growing and commercial sales are increasing. We remain focused on further accelerating the adoption of Cxbladder by large healthcare organisations in New Zealand and internationally. Gaining inclusion in the Local Coverage Determination remains a priority.”

To read the full release and the FY19 Results Presentation, please click here or visit

Audited Financial results for the year ended 31 March 2019

• Adoption of Cxbladder continues and sales are increasing, with accelerating commercial progress being noted, particularly in Q419.
• Operating revenue from test sales was up 12% to $3.8m, with total revenue for the period of $5.1m.
• Total laboratory throughput (which includes commercial sales as well as tests from User Programmes) grew to 15,697 tests in FY19, a 9% increase on FY18.
• Total billable tests grew to 12,744 tests in FY19, a 7% increase on FY18.
• Total operating expenses reduced to $(23.0)m for the year, a 7% improvement on FY18.
• Net operating cash outflow reduced to $(17.5)m for the year, a 3% improvement on FY18.
• Overall, the Company reported a net loss of $(17.9)m for the year, an improvement of 9% on FY18.
• Pacific Edge had cash, cash equivalents and short term deposits of $12.9m as at 31 March 2019.


© Scoop Media

Culture Headlines | Health Headlines | Education Headlines


Howard Davis: Dryzabone - Robert Conolly's The Dry

After the terrible devastation caused by last year’s bushfires, which prompted hundreds of Australians to shelter in the ocean to escape incineration and destroyed uncountable amounts of wildlife, The Dry has been released during a totally different kind of dry spell. More>>

Howard Davis: Benjamin Ree's The Painter and The Thief

The Norwegian filmmaker had long been fascinated by art thieves who commit high-stakes crimes with a delicate touch when a chance Google search in 2015 uncovered a botched heist in Oslo. More>>

Howard Davis: Anna Coddington Beams

Anna Coddington's thin, wispy vocals fit her songs beautifully, providing a wonderful lilting quality that pervades her latest album, producing instant ear worms. More>>

Howard Davis: Hit the Road, Jack - Chloé Zhao's Nomadland

Nomadland is perhaps the ultimately 'road' movie as it follows a group of dispossessed and disenfranchised vagabonds who find a form of communal refuge in camp sites and trailer parks after the economic contraction of 2008. More>>

Howard Davis: Byrneing Down the House - Spike Lee's American Utopia

Lee does an admirable job capturing Byrne's stunning live performance of his latest album, but the real star of the show is the staging. More>>

Howard Davis: The Phoenix Foundation Friend Ship Tour Docks in Wellington

A sense of local pride was certainly running high at the Opera House on Saturday night, as the lads ran through a tasty little set drawn mostly from their latest album Friend Ship (splash out for Xmas on the shocking pink extra-thick vinyl edition). More>>

Howard Davis: Avantdale Bowling Club

Auckland rapper and MC Tom Scott brought his stunning jazz-infused Taite Music Prize-winning project Avantdale Bowling Club to the Opera House headlining Wellington's 2020 Jazz Festival. More>>

Howard Davis: Troy Kingi Rules The San Fran

The award-winning Northland musician performed songs from his new record The Ghost of Freddie Cesar, the fourth installment in his 10/10/10 series - ten albums in ten years in ten genres. More>>



  • Wellington
  • Christchurch
  • Auckland